Oriental Professional Indemnity Insurance

The Oriental Insurance Company Ltd has a rich history, starting from its incorporation in Bombay in 1947. The Oriental Government Security Life Assurance Company Ltd. originally owned the company. However, it was formed to carry out the General Insurance business. Here we will tell you about Oriental Professional Indemnity Insurance.

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Highlights of Oriental Professional Indemnity Insurance

Here are a few highlights of this insurance policy:

  • It covers liabilities arising from errors and omissions during professional services.
  • The continuous renewal of the policy provides the benefit of a Retroactive period.
  • Claims reported during subsequent renewals but about an earlier period become payable.
  • Group policies can be issued to cover members of one profession.
  • Group discounts on premiums are available based on the number of members included in the policy.
  • This policy provides professionals with financial protection against unexpected liabilities and enables them to practice their work with peace of mind.

Oriental Professional Indemnity Insurance: Inclusions

The policy provides coverage for the following perils:

  • The policy protects professionals from legal liabilities that may arise from errors or omissions during professional services
  • The policy covers the costs of damages that the insured professional is legally obligated to pay to a third party
  • The policy also covers legal costs and expenses incurred in defense of the case, subject to the overall limit of indemnity selected and with the insurance company's consent
  • The policy only covers civil liability claims, not a criminal liability or any violation of the law or ordinance
  • This policy provides professionals with protection against unforeseen legal liabilities and allows them to work with peace of mind.
Explore Types of Professional Indemnity Insurance

Oriental Professional Indemnity Insurance: Exclusions

The policy does not provide coverage for the following perils:

  • Contractual liability
  • Intentional non-compliance with statutory provisions
  • Loss of goodwill
  • Slander, Libel
  • Fines
  • Penalties
  • False arrest
  • Defamation
  • Mental injury

Oriental Professional Indemnity Insurance: Claim Process

If you need to make a claim on professional indemnity insurance, follow these steps:

  • Firstly, inform the insurance company of the incident.
  • Fill out and sign the claim form and get it stamped by the insurer.
  • The insurance company will send a surveyor to examine the situation that led to the claim.
  • Cooperate with the surveyor and provide any information they require, including what caused the incident.
  • If you receive any legal or formal letters, share them with the surveyor.
  • If any legal proceedings have been initiated as a result of the incident, inform the surveyor.
  • Provide an estimated loss amount to the insurer.
  • If the loss is covered by the insurance policy, the insurer will settle the claim within the specified time frame.

Oriental Professional Indemnity Insurance: FAQs

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Policybazaar for Business - Professional Indemnity Insurance - Customer Reviews
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4/5
Based on 21 reviews
4
out of 5
Based on 21 reviews
0 users
15 users
6 users
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4.5 April 24, 2023
Harshit
Helpful Purchase
Profesiona Indemnity Insurance has been a game-changer for my consultancy business. It has given me the confidence to take on new projects and expand my services, knowing that I have robust coverage in place.PolicyBazaar has been fantastic in answering my questions and tailoring the policy to my specific needs.Thanks PolicyBazaar.
Pune
3.5 April 12, 2023
Bhavesh
Amazing Deals
I recently purchased Professional Indeminty Insurance from PolicyBazaar and the claims process is smooth, and has always been prompt in resolving any issues or concerns I've had. I appreciate the reliability and professionalism they exhibit.
Howrah
3.8 March 31, 2023
Bhuvan
Online Purchasing
Profesional Indemnity Insurance has been a lifesaver for my business. It offers comprehensive protection against any claims that may arise from errors or negligence on my part. The claims process was straightforward, and they handled everything efficiently. I highly value the peace of mind this insurance provides and would recommend it to any professional.
Madurai
4.3 March 13, 2023
Atif
Impressive Features
I had an excellent experience while buying Personal Indemnity Insurance. It was quick and easy to get a quote online and the premiums were quite affordable. The policy covers all the essential aspects, and the customer service team was responsive and supportive. I feel much more confident in my work knowing that I have this coverage
Agra
3.8 March 01, 2023
Tejas
Helped To Secure Confidential Data Of Company
As a Owner I had a high risk of loss of confidential data. Then my colleague suggested me go for PI Insurance at PolicyBazaar. So I visited their website and contacted the team. They answered all my queries, and when I got satisfied with the plan, I made a purchase. Thanks, PolicyBazaar.
Nashik
4.3 February 17, 2023
Ankita
Covers Legal Expenses
There was a party that made a claim against us for professional negligence by one of our employees. Thanks to PolicyBazaar which helped me protect our financial position and helped us during the claim process that covered our Legal expenses and Settlement cost. Highly Recommend this.
Allahabad
4.3 February 05, 2023
Monika
Covers The Risks
I bought Professional Indemnity Insurance from PolicyBazaar, as I was looking for insurance that could mitigate my risk associated with several professional services. Thanks to PolicyBazaar. It was worth buying. Highly Recommend it.
Jamshedpur
4.3 January 24, 2023
Riya
Helps Me To Focus On My Work
I was always concerned about my organization in order to safeguard against potential liabilities and unforeseen circumstances that could arise from professional negligence. So I bought PI Insurance at Policybazaar and found it good as it helped me to focus on my work without worrying about financial repercussions. So thanks to PolicyBazaar.
Vadodara
3.8 January 08, 2023
Shreya
Amazing Deals
I bought Professional Indemnity Insurance from the PolicyBazaar website and found it suitable for my business. I run a small company. I got terrific Deals at PolicyBazaar. It was an excellent Purchase. Thankyou PolicyBazaar.
Ludhiana
4.3 December 14, 2022
Doctor Vishal
Covers Professional Negligence
As a Doctor, I was searching for Professional Indemnity Insurance that could provide me coverage against claims for Negligence in my services. Then I visit PolicyBazaar Website. There I came across several benefits. So I made the purchase there. Thanks, PolicyBazaar.
Kochi